“If nothing else, the independent OBR certainly risks its credibility by applying such stark statistical changes to the forecasts issued alongside the July Budget. Most notably, these changes have boosted tax receipts by approximately £6bn a year, despite no change to the forecast rate of growth, while the cost of servicing government debt was also substantially reduced from the calculation made just four months ago.”
The house building encouragement measures Osborne also announced certainly provided a major boost to the likes of Persimmon, Barrett Developments, Taylor Wimpey and others, with their share prices rising significantly. Leaked information before the Chancellor had made the Statement prompted the rises though, rather than its delivery.
